The Global Pipeline Monitoring Systems Market is forecast to reach USD 8.96 Billion by 2026, according to a new report by Reports and Data. Pipeline Monitoring Systems are special technology used to detect multiple threats in real-time to prevent leakage, accidents, and burglary.
Pipelines are flow lines which are used in order to carry fluids or gases. The pipeline monitors are used to check the corrosion levels of the pipes to prevent the serious ecological outcome. The market for pipeline monitoring system is influenced by the rising demand from the oil and gas industries since there is a rise in the incidence of oil and gas leakage. The governments all around the globe have made strict regulations to prevent the occurrence of such hazardous incidents making use of pipeline monitors mandatory in all oil and gas industries.
The above-mentioned factors conjointly create scope for the market growth while factors such as unfavorable effects of pipeline monitoring systems pose limitations in the market. However, each factor would have an impact on the market during the forecast period. Consistent developments in the pipeline monitoring systems market owing to unconventional efforts have enhanced the efficiency of monitoring systems.
The Asia Pacific region has seen a drastic growth in the market of pipeline monitoring systems because of growing construction industries. This region is estimated to witness the highest CAGR during the forecast period due to the large population of countries like India, and China are increasing.
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Market Overview:
As a result of steady revenue growth over the past few years, the manufacturing and construction industry is expected to achieve a robust annual revenue growth rate between 2021 and 2028. In addition to the rapidly growing construction industry, rapid urbanization and industrialization, and technological advancements in manufacturing techniques, this can also be attributed to these factors. Green construction and energy efficient buildings have become increasingly popular in recent years as awareness of environmental impact and carbon emissions has increased. Over the forecast period, key factors are expected to boost global market growth, including the rapid growth of global populations, changing lifestyle preferences, the increasing demand for smart buildings, an increase in renovation and reconstruction activities, and an increase in eco-friendly construction activities. Other factors that will contribute to market growth in the future include an increase in disposable income, government schemes, and investments by private organizations.
Some of the Leading Market Players Are Listed Below:
- Perma Pipes,
- Honeywell International Inc.,
- Transcanada,
- Pure Technology,
- Huawei,
- Orbcomm Inc.,
- Future Fiber Technologies,
- Thales Group,
- Radiobarrier,
- Krohne Group
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Competitive Landscape:
The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as license agreements, partnerships, merger and acquisitions, collaborations, RD investments, and joint ventures to gain robust footing in the market.
Market Segmentation:
Pipeline Monitoring Outlook (Revenue, USD Billion; 2016-2026)
- Metallic
- Non Metallic
- Others
Technology Outlook (Revenue, USD Billion; 2016-2026)
- PIGs
- Smart Ball
- Ultrasonic
- Magnetic Flux Leakage Technology
- Others
End-Users Outlook (Revenue, USD Billion; 2016-2026)
- Petroleum
- Water and Waste Treatment
- Others
Applications Outlook (Revenue, USD Billion; 2016-2026)
- Leakage Detection
- Operating Condition
- Pipeline Break Detection
- Others
The Global Pipeline Monitoring Systems Market Is Segmented Into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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